Question: Please emphasize - either A or B - what variables must be inputted - answer for rent of the decreasing annuity Please be sure to
Please emphasize
- either A or B
- what variables must be inputted
- answer for "rent of the decreasing annuity"
Please be sure to review whatever answer you provide before submitting.
A withdrawal is made at the end of each quarter-year for 3 years from a savings account paying 2.3% interest compounded quarterly. The account initially contained $36,619.75. Calculate the rent of the decreasing annuity. Complete parts a) and b) below. a) Identify the formula needed, and substitute the appropriate values. (Simplify your answers. Use integers or decimals for any numbers in the expression.) O A R=- 0 OB. R: b) Evaluate the formula to calculate the rent of the decreasing annuity The rent of the decreasing annuity is $ . (Do not round until the final answer. Then round to the nearest cent as needed.)
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